Risk Management

PSI “Risks un Audits” is a company, the core business of which consulting and expertise in risk management issues.

Risk management issues Mostly concern companies, whose business activities are related to hazardous products or substances, like handling and storage facilities of oil products, chemical companies, hazardous materials shipping companies etc. National Law already provides requirements for these companies to identify their operational risks and organize work according to the hazardousness of the object.

Lately risk management and its principles are widely used in development and management of effective business. It helps to identify and assess potential risks to economic and financial activities, which allows to plan company’s activities, avoiding damage caused by various unforeseen circumstances, thus optimizing achievement of the desired result. In recent years the risk management approach has proven to be an effective decision making tool for public authorities, companies and individual projects. Risk assessment and management principles are applicable almost in any industry. Risk management philosophy is based on active identification of potential risks, assessment of possible losses or benefits and enforcement of appropriate preventive risk management measures.

PSI “Risks un audits” team’s experience in this field exceeds 20 years, gained working with the largest Latvian enterprises and local governments, as well as taking part in international projects. Likewise, for implementation of projects we involve experienced Latvian and foreign experts from Riga Technical University, Latvian School of Business and Finance, Jelgava and Ventspils local authorities and the consultancy company “TNO”, which is the leading company in industrial and work environment risk assessment in Netherlands

Janis Prindulis

Head of "PSI Risks un audits"